Source: The Real Deal Manhattan office vacancy rate climbed in January, according to Cassidy Turley’s monthly market report, reaching 12.2 percent. This 20-basis-point climb, according to the report, is due in part to two major chunks of office real estate to hit the market last month: a 612,000-square-foot space formerly occupied by Pfizer at 685 [...]

As an office moving company in New York we know that the average office leasing transaction has fallen to just 5,700 square feet. That’s a roughly 50 percent drop from the peak of 10,500 square feet in 1997, according to data the CoStar Group provided to The Real Deal. This means more shared offices and [...]